The newly introduced stimulus is economically planned to give almost one hundred and thirty million American households a very efficient tax refund. The stimulus has a total budget of more than $168 billion.
The fourth round of the stimulus check program has a lot in store for honest tax-paying American households as they are very likely eligible for a $3600 check-in form of relief rebate. The entire structure of the plan was based around the expanded federal child tax credit to be a major provision constructed in America’s rescue plan.
Government’s total financial aid till now
A total payment of around $1500 to $1800 was a major bonus that American households have already received, provided by the expanded federal child tax credit program. In the same scenario, a significant number of American households didn’t receive a single dollar and the ones who purposely rejected the payment. The government took this fact into account and made full payment to those who have not received it while being perfectly assured as soon as these specific households file their taxes for this year.
Are you eligible for the next stimulus?
A fixed amount of $3600 is to be given to the families with kids under the age of 6, and a total of $3000 is to be provided as financial aid to the American families with kids that lie in the age bracket of 6 to 17 years.
While being high budget, financial aid is also designed specifically to cater to families in need. To be eligible for the expanded child tax credit, a single parent must make less than $112,000 and less than $150,000 as a combined income in the case of couples. Any households who make more than the given specific amount will be provided with a lesser amount, or they’ll be removed completely from the eligibility criteria.
